Image courtesy of JLL

The newest tenant of a Woburn property is a venture capital-backed tech company that provides electric grid transmission equipment compatible with power-hungry AI data centers.

VEIR Inc. will occupy 53,253 square feet at 45 Industrial Parkway, property owners Camber Development and Wheelock Street Capital announced.

In January, VEIR closed on $75 million in series B financing led by Munich Re Ventures with participation by new investors that included Microsoft’s Climate Innovation Fund and National Grid Partners.

VEIR manufactures superconductors enabling delivery of 10 times the power of traditional copper cables, responding to AI data centers’ requirements, according to its web site.

“Our ability to test and manufacture next-generation superconducting power density solutions in a facility like 45 Industrial Parkway is critical to accelerating the commercialization of our solutions,” VEIR CEO Tim Heidel said in a statement. “This space provides the infrastructure and flexibility we need to scale our operations and deliver transformative energy technologies to the market.”

The company recently replaced its short-term agreement with a long-term lease as it prepares to scale up manufacturing at the Woburn property, JLL announced.

JLL’s Chris Decembrele, Rachel Marks, and Chelsea Andre represented building ownership in the lease transaction. Columbia Realty Group’s Anne Columbia and CBRE’s Rob Kinlin represented VEIR.

The current owners acquired the property in July 2022 for $23.75 million. At the time, the 89,308 square-foot building located on a 4.6-acre parcel was fully leased to three tenants.

Following the VEIR Inc. lease, 36,055 square feet is available on the first and second floors, according to JLL. The property includes 7,000-Amp power capacity and over-18-foot clear heights.